Bristol-Myers Squibb

Bristol-Myers Gets Lead over Competitors Testing Combination Drugs to Fight Cancer

Bristol-Myers Gets Lead over Competitors Testing Combination Drugs to Fight

The first-ever combination of breakthrough drugs to fight cancer has received final approval. These combination drugs are said to boost the immune system and help in fight against cancer. The approval has given Bristol-Myers Squibb Co. an early lead over competitors testing other combos in a pharmaceutical gold rush of sorts.

Bristol-Myers Squibb Co. announced on Thursday that FDA has approved the use of its drugs Yervoy and Opdivo for the treatment of advanced melanoma, a deadly form of skin cancer.

The trials showed that together, the drugs slowed or temporarily stopped tumor progression in 60% of patients, as compared to 11% who receive Yervoy. The findings were received in a key study of 140 previously untreated patients with melanoma, the deadliest skin cancer type.

Stock in Biocon jumps after announcement of agreement with Bristol-Myers

Stock in Biocon jumps after announcement of agreement with Bristol-MyersStock in Biocon gained Rs 6.10, or 1.99 per cent, a share after the company announced that it had hit an option agreement with Bristol-Myers Squibb Co for its prandial oral insulin product candidate called IN-105.

The stock hit an intraday high of Rs 321.50 and a low of Rs 311.10. In the prior trading session, the stock gained Rs 12.25 or 4.16 per cent to close at Rs 306.80 a share.

Bristol setting target- 2013

Bristol-Myers-SquibbThe second largest drug selling company, Bristol-Myers Squibb is all set for optimistic targets for year 2013. After achieving better than expected earnings, the company seems overwhelmed and has pre-defined its milestones and goals for 2013 after taking the investors into confidence, after the Plavix patent.

The company is banking upon its major assets, which are expected to roll by 2012, namely Onglyza diabetes medicine and others.

Bristol-Myers works out a $2.1 billion ‘in cash’ deal to acquire Medarex

Bristol-Myers SquibbIn the most recent run of biotechnology acquisitions by Bristol-Myers Squibb Co., the New York-based drugmaker announced on Wednesday that it has worked out a nearly $2.1 billion 'in cash' deal for the Princeton, New Jersey-based Medarex.

Under the terms of the buyout agreement - which is apparently Bristol-Myers' attempt at doubling its channel of experimental biological drugs - Bristol-Myers will pay Medarex $16 per share. The price is a whopping 90 percent premium over Medarex's Wednesday closing price of $8.40 per share.

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